Why low foreign currency values

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747man
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Re: Why low foreign currency values

Post by 747man » February 17, 2019, 8:22 pm

rick wrote:
February 17, 2019, 7:04 pm
To all intents and purposes the GBP is below 40 already, hit a low of 40.06 on Thursday. That is money market rates, not what the traders will give you .....
www.superrichchangmai Was Still giving 40.10......Saturday.....But Don't know what they'll give Tomorrow ( Monday ) But Yes The GBP Is Fu**ed !!



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Re: Why low foreign currency values

Post by SJP17 » February 17, 2019, 9:03 pm

747man wrote:
February 17, 2019, 8:22 pm
rick wrote:
February 17, 2019, 7:04 pm
To all intents and purposes the GBP is below 40 already, hit a low of 40.06 on Thursday. That is money market rates, not what the traders will give you .....
www.superrichchangmai Was Still giving 40.10......Saturday.....But Don't know what they'll give Tomorrow ( Monday ) But Yes The GBP Is Fu**ed !!
It'll recover some ground eventually too many fingers of the elite level rich in financial pies to let it fail long term.

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Re: Why low foreign currency values

Post by parrot » February 23, 2019, 3:24 pm

We were at Central this morning. As far as we could see, there were no special events going on....other than a Southern Province OTOP that's been ongoing all week. There were hoards of people.....in the stores, in the banks, in the restaurants. It's not children's day, nor a payday, no a lottery draw day.
On the way home we counted red license plates. Because of backed up traffic in the Nadee area (political rallies....sigh!), we were able to count them on both sides of the highway. We counted 17.
Milton Friedman or Paul Krugman might not agree with our assessment, but from what we saw today, the Thai economy, at least in Udon, is doing very well.

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Re: Why low foreign currency values

Post by pipoz4444 » February 23, 2019, 3:36 pm

parrot wrote:
February 23, 2019, 3:24 pm
We were at Central this morning. As far as we could see, there were no special events going on....other than a Southern Province OTOP that's been ongoing all week. There were hoards of people.....in the stores, in the banks, in the restaurants. It's not children's day, nor a payday, no a lottery draw day.
On the way home we counted red license plates. Because of backed up traffic in the Nadee area (political rallies....sigh!), we were able to count them on both sides of the highway. We counted 17.
Milton Friedman or Paul Krugman might not agree with our assessment, but from what we saw today, the Thai economy, at least in Udon, is doing very well.
Shopping Malls and Checkout Cues at the Big C type stores, are always a good indicator.

That and people eating out at places like MK, VT Nam Nueng and the like. I tried the VT Nam Nueng food and its OK :lol:

Gives one a feeling, that there is money to be spent by some, in Udon Thani

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Re: Why low foreign currency values

Post by saint » February 24, 2019, 4:37 am

Theres plenty of Thais with a lot more money than us poor pensioners , and has been since the Bangkok floods .
Also remember a Thai can get a new truck for 10,000 deposit , and a car for even less , providing they have a monthly salary . Finding the payments for the next 84 months maybe not so easy , but they dont care about the details .
As for the GBP , that will only show an improvement when the Canadian halfwit Carney can keep his gob shut for more than 5 minutes .

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Re: Why low foreign currency values

Post by FrazeeDK » February 24, 2019, 9:50 am

and there's plenty of Thais with far less money than poor expat pensioners too.. Issan has a relatively high poverty rate compared to central Thailand....
Dave

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Re: Why low foreign currency values

Post by glalt » February 24, 2019, 11:48 am

I don't think the UK is that weak. The pound is weak because the EU does everything they can think of to weaken the pound. Punishment for Brexit. Combine that with Thailand being in better financial condition than most countries, the baht is strong and it appears that it will remain remain strong.

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Re: Why low foreign currency values

Post by pipoz4444 » February 24, 2019, 12:01 pm

saint wrote:
February 24, 2019, 4:37 am
Theres plenty of Thais with a lot more money than us poor pensioners , and has been since the Bangkok floods .
Also remember a Thai can get a new truck for 10,000 deposit , and a car for even less , providing they have a monthly salary . Finding the payments for the next 84 months maybe not so easy , but they dont care about the details .
As for the GBP , that will only show an improvement when the Canadian halfwit Carney can keep his gob shut for more than 5 minutes .
How did you guys end up with a Canadian pulling your strings as Governor of Bank of England :-k Born in Canada, but also holds Irish citizenship and was more recently gifted British citizenship on 21 Nov 2018.

With some 66 Million people in the UK , you must have had one or two that were more qualified than him [-X

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Re: Why low foreign currency values

Post by SJP17 » February 26, 2019, 11:17 pm

Pound making a slight recovery today 41.60 Baht to the pound.

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Re: Why low foreign currency values

Post by the-monk » February 28, 2019, 6:16 pm

Not only the pound, this analyst forecasts a major slide for the AU$..

<< Aussie dollar trends lower as Chinese money flees housing market >>

<< After hitting a near 10-year low of 0.67 to the U.S. dollar in early January,
the Australian currency recovered to between 0.70 and 0.72 in February. But Gambarini forecasts a dip to around 0.6 against the U.S. dollar toward the end of the year. >>

https://asia.nikkei.com/Business/Market ... ing-market

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Re: Why low foreign currency values

Post by Balthasar G. » February 28, 2019, 10:31 pm

glalt wrote:
February 24, 2019, 11:48 am
I don't think the UK is that weak. The pound is weak because the EU does everything they can think of to weaken the pound. Punishment for Brexit.
Yeah, right! Just as they did in their own currency, the US$, AUS$, etc etc. Out of sheer malice :shock:
I hope I die in my sleep like my grand dad did, not screaming like his passengers

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Re: Why low foreign currency values

Post by bluejets » March 1, 2019, 5:45 am

the-monk wrote:
February 28, 2019, 6:16 pm

<< Aussie dollar trends lower as Chinese money flees housing market >>

<< After hitting a near 10-year low of 0.67 to the U.S. dollar in early January,
the Australian currency recovered to between 0.70 and 0.72 in February. But Gambarini forecasts a dip to around 0.6 against the U.S. dollar toward the end of the year. >>
Perhaps the cost effect of cutting back on coal is more widespread than anyone imagined.
Roll on Adani ...?????

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Re: Why low foreign currency values

Post by 747man » March 1, 2019, 5:05 pm

Online Rates via British Airways ( Heathrow ) Today are 39.56 Baht to the Pound....FYI !!

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Re: Why low foreign currency values

Post by sometimewoodworker » March 2, 2019, 8:32 am

747man wrote:
March 1, 2019, 5:05 pm
Online Rates via British Airways ( Heathrow ) Today are 39.56 Baht to the Pound....FYI !!
555555

TransferWise rate 1 GBP = 42.01412 THB rate: 2019-03-01 06:35 UTC

at 8:28 the guarenteed 72 hour rate is 42.01147
and after the fee you get 41.78 for a £5000 transfer

SuperRich is 41.8 this morning

So never use exchanges outside Thailand apart from TransferWise or similar.
Jerome and Nui's new househttp://bit.ly/NJnewHouse

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Re: Why low foreign currency values

Post by Charlieb » March 2, 2019, 10:24 am

Surprising rise in US Dollar to Thai Baht. Up to 31.75 today

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Re: Why low foreign currency values

Post by skinner » March 2, 2019, 10:34 am

Thai central bank may have intervened in the market I think .

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Re: Why low foreign currency values

Post by DuiDui49 » March 2, 2019, 10:41 am

Charlieb wrote:
March 2, 2019, 10:24 am
Surprising rise in US Dollar to Thai Baht. Up to 31.75 today
Morning Charlie...same here,Swedish Krona up..thank God..but for how long..time will tell i guess.

Have a great day Charlie..:-)
Best regards
//DuiDui

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747man
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Re: Why low foreign currency values

Post by 747man » March 2, 2019, 10:56 am

Charlieb wrote:
March 2, 2019, 10:24 am
Surprising rise in US Dollar to Thai Baht. Up to 31.75 today
Also The Pound up to 41.80 At Superrich this morning,Charlieb ;) ;)

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Re: Why low foreign currency values

Post by ajarnudon » March 7, 2019, 12:12 am

The OP spoke of the strength of the THB, but the thread has recently been discussing the GBP and Brexit. Let's get it back on track and discuss the strength of the THB and all currencies. Some currencies (the CNY in particular) are totally managed and do not reflect day to day market variations, although their central banks consider these in setting their own exchange rates. Thailand has a free floating rate, with the only exception being that banks are given an exchange rate for buying foreign cash which doesn't change for that day's trading. Many foreigners coming to Thailand from western industrial economies think that Thailand's economy revolves around rice and tourism. This ignores the fact the Thailand is now a predominantly industrialised economy, and that the pickup truck or refrigerator you buy in Australia today was most likely manufactured in Thailand.
How do free market exchange rates come about? Literally, they reflect the differences in the countries' offiicial interest rates, not only as they exist at present, but as expert traders see them happenning down the track. If a country's economy is weakening, the central bank will pull interest rates lower to try to get consumer spending increased to kick start the economy (as seems likely in Austrakia in the short term). The reverse applies with an overheated economy where inflation is rising significantly - the central bank will increase interest rates to slow the economy and keep inflation in check (the US presently has record low unemployment, and one could foresee that this will lead to inflation and the Fed increasing interest rates to keep it in check). So, with market economies, today's exchange rates reflect what banks expect the differences in local interest rates to be in the near future. As Australia's major export market is raw materials to China, and its manufacturing growth slowing, it is generally appreciated that changes to Western disposable incomes will impact on China's exports of manufactured goods, and Australias exports of raw materials.All in all, exchange rates usually reflect market forward ecpectations of interest rate differences.

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Re: Why low foreign currency values

Post by Stantheman » March 7, 2019, 2:09 am

While I mostly agree with what you said I do feel that the government through the central bank is helping keep the baht slightly stronger then a completely free flooting currency

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